Rod Lockhart/ LendInvest
LendInvest deepens JP Morgan relationship, wins £180m Lloyds Bank partnership
LendInvest's CEO says applications for new mortgages have slowed more recently but listed fintech lender has been able to score new banking partnerships.
Property finance fintech LendInvest has struck a new £180m lending partnership with Lloyds Bank and substantially increased an existing deal with JP Morgan to £1bn.
Both deals continue a theme for the listed fintech lender of high profile deals with banks and asset managers to fund the growth of its loans.
The lender has seen its assets under management soar c.20 per cent in 2022.
Assets, which represent deployed capital, were c.£2bn in January 2022 but now stand, according to a stock market update today, at c.£2.4bn.
"Looking ahead, we are acutely aware of the disruption in the UK mortgage market, which is affecting confidence and for the moment, applications for new mortgages have slowed across the market,” he said.
LendInvest has also just opened an office in Glasgow, Scotland as part of its expansion plans, which include a ramping up of its student lets business.